PM360 Product Manager Survey August 2011

TODAY’S PRODUCT MANAGER

The product managers of today may not be all that different from those of three—or even ten—years ago, but now, more than ever, they seem forced to do their job with both hands tied behind their backs. The landscape has changed since 2009, and the results of our Third Annual Product Manager Survey reflect that change. Once again, the survey aims to put a finger on the pulse of product management and give readers an inside look into the challenges, achievements, failures, and opinions of their colleagues. This survey is a reflection of the industry by people within the industry.

The online survey was conducted by Litchfield Research and received responses from over 240 people including a slew from top 10 companies such as Pfizer, Merck, Bristol-Myers Squibb, and AstraZeneca. Our reach extended far beyond the big boys with responses from mid-sized and boutique companies that provide a well-rounded view of the pharmaceutical, biotech, and medical device industries.We are grateful to everyone who responded, and congratulate the three randomly chosen to receive the incentive prizes: an Apple iPad 2, an Apple iPod Touch, and an Amazon Kindle.

Unfortunately, not everyone was as lucky this past year. The economic recession continued to take its toll on the industry, and its effects weighed heavily on the shoulders of product managers. Marketing budgets are continuing to shift downward, and for the first time since we started this survey in 2009 a majority of respondents feel their budget is not adequate to competitively market their brands. There are bright spots, though: Salaries are the rise! Hopefully, this is a positive sign of things to come.

Respondents again named social media this year’s hottest trend, and again more than 80% believe pharma marketers will increase use of social media within the year. Of course, we did not exactly experience the predicted boom in social media use last year—proving, once again, that the industry can only go as far as the regulators will let them. Respondents continue to wait for the FDA to issue their social media guidelines, and the FDA keeps putting it off. Meanwhile, more and more product managers are looking at all facets of mobile (iPads, QR codes, apps) for new ways to reach consumers.

This year’s survey also looks at brand competitiveness, where marketing dollars are being spent, and the best ways to measure digital success. The journey begins, however, with a look at respondents’ educational and professional background. Enjoy! --Andrew Matthius, Supplement Editor

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